Weekly Blogs

Gold escalated to new record highs above $2500, up 22% YTD

Weekly Blog

The present macroeconomic backdrop is creating a “perfect storm” for gold, making it one of the top-performing asset classes in 2024. Gold’s stratospheric journey to gleaming new heights has continued to accelerate this year, cementing its legendary status as the ‘must-have’ asset class in all portfolios.

Read More

AUGMONT POST BUDGET REPORT

Weekly Blog

There are two major announcements in this budget for the bullion industry, which is considered positive by the market participants.
1) Reduction in Duty on Gold and Silver from 15% to 6%
2) Changes in the capital gain tax rate in holding and selling gold in physical or digital form.

Read More

Precious Metals gives a technical breakout from the range

Weekly Blog

Gold gained bullish momentum and surged above $2400 (Rs 73000) on broad-based USD weakness. Technically Gold prices have given a bullish breakout of the triangular pattern and a weekly closing above it. This opens the door for extra gains towards the previous high of $2450 (Rs 75000) and more in the coming days if momentum builds on.

Read More

Precious Metals still confined in a range

Weekly Blog

This week, gold prices have remained stable between $2300 and $2365. On an annual basis, gold prices are up 21% since the end of the second quarter of 2023. Inflation is not decreasing, geopolitical tensions are not reducing, and government deficits are increasing. This provides significant support for gold.

Read More

Precious Metals at crossroads for new directional trend

Weekly Blog

Following the announcement of higher-than-expected US PMI data, gold and silver erased all of their gains for the week on Friday. The report revealed that US manufacturing and services activity remained strong, implying that inflation and interest rates will continue high for longer.

Read More

Gold dwindling in confusion of one rate cut or two.

Weekly Blog

The most important event this week was the FED meeting. As the Fed maintains hopes for at least one rate cut this year, precious metals investors consider the inflation picture. If Fed officials deviate from market expectations of a policy shift before the end of the year, US Treasury bond rates may rise, making it challenging for Gold to remain stable. On the other side, gold is expected to draw buyers if policymakers go for two rate cuts in September and December.

Read More